A method for cryptocurrency exchange between multiple parties using threshold signature cryptocurrency wallets includes steps for creating threshold signature cryptocurrency wallets shared between a set of parties and a mediator for trading cryptocurrencies. The method may include steps for dividing a threshold private key, corresponding to each of the threshold signature cryptocurrency wallets, into n shares based on (t, n)-threshold signature scheme and sharing masked shares, corresponding to the threshold private key for each of the threshold signature cryptocurrency wallets, by the set of parties and the mediator. The method may include steps for validating correctness of all masked shares of the threshold private keys by the set of parties and the mediator. The method may include steps for signing a withdrawal cryptocurrency transaction jointly by the set of parties or signing a withdraw deposit transaction jointly by the at least one party and the mediator.
Legal claims defining the scope of protection. Each claim is shown in both the original legal language and a plain English translation.
2. The method of claim 1, wherein a broadcasting channel is enabled for public message exchange between the set of parties and the mediator for generating the threshold signature cryptocurrency wallets.
3. The method of claim 1, wherein a secure channel is enabled for each party for secret message exchange.
Cooperative Patent Classification codes for this invention. Click any code to explore related patents in that topic.
June 3, 2019
October 25, 2022
Browse 5M+ US patents with plain-English claim translations and AI-generated analysis.